WHEN IS THE BEST TIME TO SELL A HOUSE?
Updated May 27, 2022 - The national median selling price in April 2022 rose 8.8% year on year according to REINZ. All but two regions were up on April 2021 and prices were strong despite a decrease in sales volume.
Serious home buyers are still motivated and if you're buying and selling at the same time, then 'when' should not be an issue.
Proactive, digital real estate marketing to find qualified buyers for your location, price range and property type is key, as is the method of sale which impacts on your sale price.
Additionally, your choice of real estate agency and agent are paramount to get the fundamentals of selling a house right at the outset as this forms the foundation of your whole selling experience.
If you choose a vetted property agent proven competent, any month can be a good time to sell a house.
Why are buyers still actively purchasing properties
There are always buyers for the usual reasons such as getting onto the property ladder, downsizing, up-sizing, upgrading, changing jobs to new locations, births, deaths, building new, wanting to invest, wanting a warmer home or being closer to family, especially since Covid.
If the time is right for you, now can be a good time to sell a property, especially if there are fewer for sale than in 2021 as this helps create competition between buyers. Find out how much it costs to sell a house so you can plan ahead.
Use these tips to know what buyers look for in a property
Closer scrutiny of real estate agents needed
Doing your due diligence and scrutinising real estate agents' competence has never been more important. One area requiring greater scrutiny is the real estate appraisal which we address below.
Why buyers need more help to purchase properties
Home buyers need more help to meet bank lending affordability and LVR rules requiring real estate agents to assist and liaise with banks, mortgage brokers, insurance companies, property valuers, lawyers, councils, tradespeople, Trusts and families - often quickly. When selling a house, there is always a problem to solve or prevent.
You may have a property zoned for development in Auckland and would like to know how to sell to developers or you may have tenants that wish to remain as tenants if the buyer is investing in your property.
On many occasions, home buyers need to sell their existing home so your sale and purchase agreement may be conditional on that. The scenarios are many and a real estate agent must have the capability to manage any of these.
A high level of knowledge, tact, integrity, competence, experience and negotiation are a minimum so make sure your real estate agent has been vetted - it can be very reassuring and can achieve the result you need.
Find out more about comparing real estate agents or call 0800 789 532 to request a list - it's a genuine free service.
A successful property sale will rely heavily on your real estate agent including and targeting bank-approved purchasers less impacted by the recent lending restrictions and interest rates. The method of sale and digital marketing used are major influencers.
Negotiating longer settlement periods have become more common place to allow more time for vendors to find their new homes helping to alleviate pressure.
If the time is right for your circumstances, now can be a very good time to be selling a house and comparing real estate agents who have been vetted.
If you are selling a house in Auckland and are unsure about your Unitary Plan zone, get in touch, we can advise you about this quickly.
Planning now to sell your property? Safeguard yourself by requesting a list of vetted real estate agents.
Accurate real estate appraisal paramount
A real estate appraisal sets the foundation for a property sale and if it's poorly researched in the economic climate of the day, you will be on the back foot from day one, possibly without even being aware of it.
We are still hearing many stories of real estate agents providing unrealistic appraisals to entice sellers to list with them, and once they are in a contract, the price crunching starts and is disheartening to say the least.
Successful property sales in this market depend entirely on the competence of a real estate agent's initiative, digital marketing, integrity, personal attributes, ability to manage various methods of sale and of greatest value, their negotiation skills. Find out what a real estate appraisal should include.
If you need help or have a question, start a Live Chat here.
Greater confidence in vetted real estate agents
Should you decide that now is a good time to sell your property, you can have greater confidence in real estate agents who have been put through a stringent vetting criteria. This frees you up to focus on preparing your house for sale and getting your ducks in a row.
Our vetting process throughout the last 11+ years has proven to achieve optimum sale prices, within short time frames, at any time of year. Read our reviews.
If you would like to get some appraisals to compare, request a shortlist now or call 0800 789 532
Seasonal pros and cons of selling a house
Cold New Zealand winters can motivate people to up-spec to insulated homes and winter/spring is often the time when they start looking.
Autumn and winter often have fewer houses for sale and therefore less competition from other properties.
Insulation and the need for a warmer, dryer home often sees buyers actively looking to buy a house in Winter/Spring.
February and September can often have more buyer activity, although the downside is that with so many people listing at this time there are more properties competing with yours.
Summer is considered the best time to sell a holiday home as holiday makers are out and about travelling.
Summer can be a good time to sell a lifestyle block with drier ground underfoot and brighter greenery.
The upshot is that houses sell all year round, so the best time is really when it suits you.
You can sell a property any time but do it diligently
Here at Agent Finder NZ we have been tracking and monitoring real estate listings for over a decade. Our research shows that properties that end up listed for sale a second time around are not selling because of the time of year but instead, the lack of sale stemmed from things such as being un-prepared, choosing an unsuitable real estate agent or lack of information to assist with due diligence.
If you need any advice get in touch now or call 0800 789 532 - we're here to help.
Article updated May 27, 2022 by Trish Willis - Director of Agent Finder NZ and Member of the Property Institute of NZ (IPAC)
Agent Finder NZ Awards:
Best Property Advice Hub New Zealand - 2021
Best Real Estate Agent Vetting Service 2018 - New Zealand